Large-Scale Chinese Investment In Europe

Chinese firms are making massive investments in the hospitality industry globally. At this year’s ITB Berlin Convention, a special keynote event looks at where the future may take us in this respect. One of the key speakers on the stage will be Pierre Frédéric Roulot – CEO of Jin Jiang Europe and the Francebased Louvre Hotels Group. We asked Mr Roulot why Jin Jiang invested in Louvre…

FOCUS ON CHINA – BROUGHT TO YOU BY TRAVELDAILY CHINA

Category: ITB Destination Day 1

Date: March 8, 2017 Time: 4:15 p.m. – 5:30 p.m. Location: Hall 7.1a, Auditorium New York 1

In 2015, Louvre Hotels Group was the second-largest hotel group in Europe, with a network of more than 1,100 hotels (more than 90,000 rooms). The group has also a long history in International Development with local offices, multicultural teams, enabling the group to develop in more than 40 countries at that time. The acquisition was done to boost hotel tourism between France and China and the international development of selected brands for both parties.

Since the acquisition, the group has substantially developed its perspectives. Indeed, this purchase permitted the Louvre Hotels Group to accelerate its development strategy on the global market. Its shareholder gave to the group a credit line of €2,5bn for 3 years in order to bolster projects. These included the boosting of organic development (more than 100 openings in 2016: +50% vs. the historical development trend of the group); renovating hotels – rolling out new group concepts (3-year plan to renew 100 hotels); acquiring strategic hotel portfolios (the German group Nordic in 2015, the Indian group Sarovar in 2017); developing group megabrands in China (+250 Campanile & Golden Tulips by 2020); and finally rethinking the customer journey – integrating new digital technologies (websites & apps revamping in 2017)